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The following data relate to the operations of picanuy corporation

P9-26 Picanuy Corporation

 

The following data relate to the operations of Picanuy Corporation, a wholesale distributor of consumer goods:

 

Current assets as of December 31:

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,000

Accounts receivable . . . . . . . . . . . . . . . $36,000

Inventory . . . . . . . . . . . . . . . . . . . . . . . . $9,800

Buildings and equipment, net . . . . . . . . . . $110,885

Accounts payable . . . . . . . . . . . . . . . . . . . $32,550

Capital stock . . . . . . . . . . . . . . . . . . . . . . . $100,000

Retained earnings . . . . . . . . . . . . . . . . . . . $30,135

 

a. The gross margin is 30% of sales. (In other words, cost of goods sold is 70% of sales.)

b. Actual and budgeted sales data are as follows:

December (actual) . . . . . . . . . . . . . . . . . . $60,000

January. . . . . . . . . . . . . . . . . . . . . . . . . . . $70,000

February . . . . . . . . . . . . . . . . . . . . . . . . . . $80,000

March . . . . . . . . . . . . . . . . . . . . . . . . . . . . $85,000

April . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $55,000

 

c. Sales are 40% for cash and 60% on credit. Credit sales are collected in the month following sale. The accounts receivable at December 31 are the result of December credit sales.

d. Each month’s ending inventory should equal 20% of the following month’s budgeted cost of goods sold.

e. One-quarter of a month’s inventory purchases is paid for in the month of purchase; the other three-quarters is paid for in the following month. The accounts payable at December 31 are the result of December purchases of inventory.

f. Monthly expenses are as follows: commissions, $12,000; rent, $1,800; other expenses (excluding depreciation), 8% of sales. Assume that these expenses are paid monthly. Depreciation is $2,400 for the quarter and includes depreciation on new assets acquired during the quarter.

g. Equipment will be acquired for cash: $3,000 in January and $8,000 in February.

h. Management would like to maintain a minimum cash balance of $5,000 at the end of each month. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $50,000.

 

The interest rate on these loans is 1% per month, and for simplicity, we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter.

 

Required:

Using the data above:

1. Complete the following schedule:

Schedule of Expected Cash Collections

January February March Quarter

Cash sales . . . . . . . . . . $28,000

Credit sales . . . . . . . . . . 36,000

Total collections . . . . . . . $64,000

 

2. Complete the following:

Merchandise Purchases Budget

January February March Quarter

Budgeted cost of goods sold . . . . . . . . . $49,000*

Add desired ending inventory . . . . . . . . . 11,200†

Total needs . . . . . . . . . . . . . . . . . . . . . . . 60,200

Less beginning inventory . . . . . . . . . . . . 9,800

Required purchases . . . . . . . . . . . . . . . . $50,400

*$70,000 sales × 70% = $49,000.

†$80,000 × 70% × 20% = $11,200.

 

Schedule of Expected Cash Disbursements—Merchandise Purchases

January February March Quarter

December purchases . . . . . . . . . . . . . . . $32,550* $32,550

January purchases . . . . . . . . . . . . . . . . . 12,600 $37,800 50,400

February purchases . . . . . . . . . . . . . . . .

March purchases . . . . . . . . . . . . . . . . . .

Total disbursements . . . . . . . . . . . . . . . . $45,150

*Beginning balance of the accounts payable.

 

3. Complete the following schedule:

Schedule of Expected Cash Disbursements—Selling and Administrative Expenses

January February March Quarter

Commissions . . . . . . . . . . . . . . . . . . . . . $12,000

Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,800

Other expenses . . . . . . . . . . . . . . . . . . . 5,600

Total disbursements . . . . . . . . . . . . . . . . $19,400

 

4. Complete the following cash budget:

Cash Budget

January February March Quarter

Cash balance, beginning . . . . . . . . . . . . $ 6,000

Add cash collections . . . . . . . . . . . . . . . . 64,000

Total cash available . . . . . . . . . . . . . . . . 70,000

Less cash disbursements:

For inventory . . . . . . . . . . . . . . . . . . . . 45,150

For operating expenses . . . . . . . . . . . . 19,400

For equipment . . . . . . . . . . . . . . . . . . 3,000

Total cash disbursements . . . . . . . . . . . . 67,550

Excess (defi ciency) of cash . . . . . . . . . . . 2,450

Financing Etc.

 

5. Prepare an absorption costing income statement, similar to the one shown in Schedule 9 in the chapter, for the quarter ended March 31.

6. Prepare a balance sheet as of March 31.

Sport psy questions | Psychology homework help

 

 

Choose five questions and provide comprehensive answers to each question. Answer the question in three paragraphs and utilize a minimum of three references including the text, articles, and/or websites. Citations should be used when appropriate:

 

 

1.Now that you have examined various ways that sport psychologists measure personality, which inventory would you recommend for use? Why?

 

 

 2. Is psychological momentum fact or fiction? How do you feel about the projected performance model of psychological momentum?

 

 

3.Can an athlete cut out distracting scenarios while at the same time maintaining a broad external focus of attention? If so, give examples in sport where this occurs

 

 

 

4.How does “self-talk” differ from the “trash talk” used by many athletes today?

 

 

5.Do you think self-talk can really increase self-confidence and performance? Explain and defend your answer

 

Proj 592 project cost and schedule control week 3 complete devry

PROJ 592 Project Cost and Schedule Control

Week 3 Complete DQ’s and Quizzes

 

 

Week 3 DQ 1

Week 3: Scheduling Networks – Discussion

Project Schedules (Graded)

Forget about cost estimation and budgets this week; now we get to play with the third and greatest element of our triple constraint — TIME. Project scheduling follows one of Parkinson’s laws: “Everything takes as long as it takes.” We will explore the elements and functions we must consider when developing the project schedule?We have developed a complete WBS that we feel truly defines the scope of the project, and it is well organized. We have reviewed some available resources, including some outside sources; however we must first build a schedule baseline.

How do you get started? What methods help in scheduling?

Is there the same kind of team process involved as in building the WBS?

What are your most important considerations when building a project schedule?

Must you first consider deadlines? What kinds of scheduling constraints are common?

Remember, you each don’t need to address all the questions. Use them to build a discussion amongst all of us.

 

 

Week 3 DQ 2

Week 3: Scheduling Networks – Discussion

Sensitivity Analysis (Graded)

A “what-if analysis” is a common term for sensitivity analysis; does this sound more familiar?

What is your understanding or experience with analysis of project schedules?

When doing a sensitivity analysis, what factors could be variables, and which should be constants?

This is an important part of building a viable project schedule: understanding what can change and still be acceptable, and what can change that may become a problem.

 

 

Week 3 Quiz 1

Grade Details – All Questions

 1.        Question :        (TCO B) Three-point estimate:

The SuperFlyer Corporation is developing a revolutionary flying disc. The new toy can fly straight over a great distance, which is exciting by itself. However, this disc will also return to the owner in response to their voice! Because this is an advance over anything that this company has done before, estimating the amount and cost of the hi-tech materials are difficult. The project manager recommends using a range estimating process to develop an estimate. The values below are submitted by the project team.

 2.        Question :        (TCO A)  Your manager has asked you as a project manager, “How does the Bottom-Up budgeting process work? I hear the terms bottom up and top down.”

  3.       Question :        (TCO B) You have been requested to provide a contingency estimate for a project involving the manufacturing of a new television. You are provided with the following component and labor estimates, together with the type of estimate:

(a) What cost budget do you recommend for the product?

(b) Will the project be approved?

(c) What would you recommend to reduce or eliminate any contingency from the budget?

 4.        Question :        (TCO A) Our company has a limited time to complete our project to develop a new product. We have been assigned as the project manager and are in the process of developing a project plan. The executives are impatient with us and are “encouraging” us to move on and get started on the “actual work.” Why are we taking so much time to develop the project plan, and how does that fit with monitoring and control? For full credit you must provide specific reasons and justifications, not just generalities.

 

 5.        Question :        (TCO A) An environmental consulting firm has been hired to clean up contaminated groundwater beneath the site of a former chemical factory. The clean-up design process consists of evaluating several alternatives, preparing a conceptual design for the most appropriate alternative, evaluating the conceptual design by performing a small scale pilot test on site, and, based on the results of the pilot test, preparing a final design.

 

Week 3 Quiz 2

Grade Details – All Questions

 1.        Question :        (TCO B) Three-point estimate:

The SuperFlyer Corporation is developing a revolutionary flying disc. The new toy can fly straight over a great distance, which is exciting by itself. However, this disc will also return to the owner in response to their voice!  Because this is an advance over anything that this company has done before, estimating the amount and cost of the hi-tech materials are difficult. The project manager recommends using a range estimating process to develop an estimate. The values below are submitted by the project team.

 2.        Question :        (TCO A) Single-project budgeting must fit into the overall budgeting process of the organization and the company as a whole. As a project manager for one of your company’s projects, you have been asked to provide a brief description of the top-down approach to the budgeting process.

Explain the three basic steps in the top-down budgeting approach by identifying the organizational level (Upper Management, Functional Management, and Project Management) and type of budget prepared at each step. For each type of budget, explain why it is used at its level.

 3.        Question :        (TCO B) You have been requested to provide a contingency estimate for a project involving the manufacturing of a new television. You are provided with the following component and labor estimates, together with the type of estimate:

(a) What cost budget do you recommend for the product?

(b) Will the project be approved?

(c) What would you recommend to reduce or eliminate any contingency from the budget?

 

 4.        Question :        (TCO A) We have discussed the project plan and are taking considerable time developing processes for creating it. This seems to be in conflict with the description of the course, which is Monitoring and Control. Why are we taking so much time to develop the project plan, and how does it fit with monitoring and control? For full credit you must provide specific reasons and justifications and not just generalities.

 5.        Question :        (TCO A) A consumer electronics firm is planning an expansion into Milwaukee. Generally, the firm prefers to remodel large existing tenant spaces to suit their needs. After a site is selected from several alternatives, the corporate architect develops plans by reviewing the suitability of existing structure and utilities. A modification and demolition plan is then developed. Interior finish plans are then developed from corporate standards and adjusted to each site.

 Building permits are handled by the general contractor (GC). The firm uses a GC for all of its construction in a region. The GC hires local subcontractors and provides on-site construction supervision. 

 

Week 3 Quiz 3